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Mahindra sells 4.16% stake in Dominion to company’s main shareholders and executives
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The Corner
Renta 4 | Mahindra, a shareholder in the company prior to its IPO, given that it was a long-standing shareholder in CIE Automotive, has sold its stake in the company (6.3 million shares representing 4.16% of the capital).
The divestment, which was carried out in a block trade at a price of €3.4 per share, was expected and comes shortly after the Indian company reduced its stake in CIE Automotive by almost half (3.5%) last December.
The shares sold by Mahindra have been acquired by some of Dominion’s main shareholders and executives.
ACEK, the Riveras family’s investment vehicle, acquired 3.14 million shares (2.08% of the capital), CEO Mikel Barandiarán acquired 1.575 million shares (1.042% of the capital) and Antón Pradera acquired the remaining 1.575 million shares (1.042% of the capital).
We reiterate our OVERWEIGHT recommendation and P.O.